CoinDCX To Invest Rs 100cr In Web3 Startups

CoinDCX Venture is all set to invest in early-stage crypto and blockchain-based startups over the next 12 months.
CoinDCX To Invest Rs 100cr In Web3 Startups
CoinDCX Venture

CoinDCX Venture is all set to invest in early-stage crypto and blockchain-based startups over the next 12 months. Indian crypto exchange platform CoinDCX has recently initiated its investment arm named CoinDCX Ventures, which moves towards investing Rs 100cr in crypto and blockchain-based startups over the next 12 months.

CoinDCX Venture is Setting its Target to Invest in Web3 Companies Globally

CoinDCX Venture

However, the CoinDCX Venture is setting its target to invest in Web3 companies globally, the company expects 30-40% of its portfolio to receive from India. The amount will eye on Seed and Series A investments but the mandate is flexible. The amount will focus on five sectors including, Investing infrastructure, investing products (Defi/CeFi), infra layer development, development tools, and Web3 applications.

In addition to this, the amount has already made seven investments, including a wallet solution, Web3 notification protocol, cross-chain bridge protocol, Web3 social engine, as well as computing protocol and distributed storage, among others.

CoinDCX Assigned Rohit Jain As Senior Vice- President to lead the CoinDCX Venture

CoinDCX Assigned Rohit Jain

To lead the CoinDCX Venture, the company has assigned Rohit Jain as Senior Vice- President and head of Ventures and Investments. Previously, Rohit Jain was a partner at a growth stage fund, The fundamental Partnership.

CoinDCX Recent Funding Round

CoinDCX Ventures stated that it has a unique vantage position in its access to both users/customers and the web3 developer community, owing to India having one of the largest retail crypto bases internationally and likely the highest number of web3 developers in the future.

CoinDCX Ventures will assist its portfolio companies in gaining access to exchange infrastructure, access to leading crypto experts, assisting with growth strategies and distribution, assisting with community building and connecting with key influencers, and acting as a connector between companies and the large and growing web3 dev community, making best practices in HR available, and utilizing its legal and compliance engines as needed.

CoinDCX has recently secured $135 million in Series D investment. It has investors such as former Facebook co-founder Eduardo Saverin's B Capital, Coinbase, Polychain, Cadenza, and Pantera, as well as new investors such as Pantera, Steadview, Kingsway, and DraperDragon.

CoinDCX To Invest Rs 100cr In Web3 Startups
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